CAIRO: Russian Consul General Sergei Petlyakov praised the role of Egypt in the Middle East on Monday, adding that Egyptian-Russian relations have improved in the economic and military fields, Al Ahram Gate reported.
Petlyakov made his remarks during his visit Monday to the Mansoura Kidney Center and the Egyptian Liver Research Institute and Hospital in Sherbin, part of a two day visit to the Dakahlia governorate.
He said his visit aims to determine investment opportunities in Egypt.
Russian-Egyptian military relations were promoted by former Minister of Defense Abdul Fatah al-Sisi during a recent visit to Russia, and Minister of Industry, Foreign Trade and Investment Mounir Fakhry Abdel Nour also visited Russia three weeks ago.
Nour’s visit to Russia resulted in an agreement to establish a free trade zone between Egypt and the customs unions of Russia, Belarus and Kazakhstan. He said in a statement then that the free trade zone will benefit all sides because it will increase mutual trade.
The two sides also discussed mutual trade including importing Russian supplies of liquefied gas and wheat to Egypt, the statement said. Russia is currently considered the principle supplier of wheat to Egypt.
Egyptian-Russian mutual trade amounted to $2.3 billion last year, and Egyptian exports to Russia amounted to $332 million, according to the State Information Service.
Russian investment in Egypt totaled $65.6 billion last year, representing 383 Russian companies in Egypt, it said.